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opposition seems to be dissipating, senator harry reid says he will get it through before the week is out. is it possible consumer spirits want to see it go through, they're flooding the dealerships and giving everybody a lift in their psyche and therefore good for the bull market. that's where i want go. clunkers good for the bull market? what's your quick take? >> i think it's worked from a psychological standpoint. hard to quantify it. the only thing i would say, if you're going to get stimulus that works in this fashion, it puts the fed in a tighter spot. they have rate structures in an emergency situation and clearly with the market doing this well and policies like you're advocating continuing, the fed has to address coming way from an emergency situation and back towards something more normal. >> $2 billion, it will be gone in about 12 days if they can get the record keeping right, that's the only thing. jim, to another one. >> i'd like that one, i'd like to take a swing at that one. >> go ahead, take a swing. >> i hate cash for clunkers with every fiber. it's funneling money to an
senate majority leader -- that's a joke. i don't have one. senate majority leader harry reid's annual clean energy summit in las vegas took place. natural gas getting a lot more attention out there. even al gore seemed to acknowledge the inconvenient truth that we're going to need to embrace a fuel that's just less dirty before we can get clean. my take, let's hope what happens in vegas doesn't stay in vegas for a change. there may even be the political support to get nat gas through congress, oh, wow, among other things the bill that's on the table would require an extension of the existing credits for natural gas as a transportation fuel. it would provide a tax credit for the purchase of a nat gas vehicle, require half the vehicle the federal government purchases over the next couple years to be natural gas fueled. legislation would be used for clean energy fuels, largest chain of natural gas filling stations in the country. not to mention all the natural gas companies. if this gets past they're all going to be good. the big question i have is when the political winds change for for
for natural gas as a fuel. and the stocks were right. harry reid's summit turned into basically a natural gas love-fest. now i'm starting to see similar action with nuclear. shaw group, the infrastructure company that's been my favorite nuclear play, because building nuclear plants is a big part of its business, it makes up 61% of its order backlog. has been moving higher. even though its most recent quarter was disappointing. shaw group reported a 3% earnings miss and it lowered its earnings forecast on july 9th. but guess what? the stock is up 25% since then. what does that tell you? why? see, i think the market may be pricing in better prospects for the nuclear industry. we know that obama was willing to compromise. he added nuclear to the dubious climate change bill that the house of representatives passed and his energy secretary stephen choo has said that he's committed to starting the construction of new nuclear plants. something we haven't seen in this country in a generation. in addition to supporting a program to help finance new nukes. right now, shaw group has three nuclear projec
, and harry reid has it and under president obama's direction, will use it. in this reconciliation, it's a tool, legal, part of the senate rules, you lower the vote from 60 to 50. now, people are saying on, you can't get enough stuff in there. you can get 80% to 90% of a health care plan in there. the other 10%, 20%, you can legislate inkra mentally. that's easy to do. republican reconciliation will be the vehicle they will use to pass this plan. again, another contrast to 2003, the prescription drug plan, so seniors have affordable access to plans, the far right didn't like it, the left didn't like it, i was in the middle and we pulled the group together and passed it with 60 votes. it can be done if you say we're gb going to listen to everybody. once you say we're going to cram it through with 50 votes, you can only get 50 votes and there's the risk of a big backlash. >> the senator's going to be with us for the rest of the program. we have a lot to talk about, not only with health care but also how we're seeing this ripple through the system and the markets as well. he'll be with us
and is it it starts notice. >> harry reid saying that the senate will be passing the cash for clunkers bill. that is something that most people expected, but none the less the headline is they will get a couple billion for cash for clunkers. more on that trade coming up in a couple of moments. a surprising angle and let's get to the trading floors with the markets which were up and turned down in the past few minutes. the trading floors, we have bob dasani and rick santelli at the nasdaq. good to have all three of you with us. speaking of the economy and where we stand, the ph.d. called this recession earlier than anyone else. where does he see us now? >> he sees things improving that and that's a good point. they are having an analyst meeting over at
harry reid says the vote for cash for clunkers could be pushed back to saturday. some are still against putting more money in the program. >>> a record $75 billion as it sells three-year notes and ten-year notes and 30-year bonds. i'm courtney reagan. >>> second hour of power lunch continues, i'm bill griffith, stocks sliding a bit. although one of our manufacturers reports did turn out well. >> sugar and soy beans are bit this year of the we'll give you hot commodity plays. >> i'm rebecca jarris, nfl and marines calling war on twitter. >>> one ronald insana, cnbc contributor, i used to hate first day of school, always called me by my formal name. >> i'm sure it was worst for me, my grandfather heard this, every first day of school the teacher would say, does that mean you're insane? don't you have writers. what do you make of the market. i'm told the declines we sewed were the biggest we've seen since july 7th. >> people get nervous about small declines, earlier in the week with respect to the streak.com portfolio i went 100% cash. this is more portfolio protection, i think it's still
. senate majority leader harry reid says he has the votes to pass the bill. senate leaders plan to introduce an amendment to it. if any of them pass, the house would need to pass the amended bill. the problem there is that the house was already in recess, which is why the market has been going up every day. but senate and democratic aids say they don't expect it to pass. >> the wisdom of crowds. >> you've already shaken off your, like, love of washington from tuesday. >> yeah. it's a one night of sleep. but i did like standing up there with those guys. >> i was just going to say, that shirt and tie looks like a run for congress. >> cufflinks today? >> no. that's too hard. >> we know you're not that committed the. >> no. if i'm going to run, i don't want to deal with -- it depends on whether i keep them on all day. >> you would have to kiss a lot of babies. i don't know that moms will want to -- >> that is the problem. you do have to talk to people a lot. >> people you don't know and you have to be nice, leave a good impression, not -- >> also in washington today, the white house
-ops would have to be the same as a public option. harry reid said call it public option, whatever you want to call it. that's what they want. >> electric costs for america has been working for decades and decades. >> why do we need another one? >> we need one for health care. >> we have one. >> really, we don't have one. >> they're all across america right now. but they're not run by the government. >> the beat continues, obviously. >> hurricane bill -- >> thanks, guys. see you later. >> hurricane bill could be a big one. the winds are getting stronger, the storm is getting closer. could even hit the carolina coast. we're going to have the latest for you. >> the dow up 74 points and hanging in there. of back with more "power lunch" after this. >>> the first hurricane of the season is gathering force over the atlantic. weather channel's nick walker joins us from atlanta with the latest. hi, nick. >> hi, sue, hi, mandy. take a look at a strengthening hurricane bill. very symmetrical system here. the eyewall has lots of thunderstorms in it, a very well-defined, large eye. obviously strengthen
Search Results 0 to 9 of about 10 (some duplicates have been removed)

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